Financial Technologies

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Shane Gau

Lead Digital Transformation Consultant

Take a look at why Softarex is the best choice for creating custom-tailored applications, new products, and individual services. Schedule a live demo with Shane Gau, our Lead Digital Transformation Consultant, who will answer your questions and describes how Softarex can help your business grow bigger?

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We’re entering a new era of finances: a reshaping industry core and technology-led innovation will challenge the business and operating models of every financial company in the years ahead. That is why we are investing in such key drivers as Artificial Intelligence, Cybersecurity, Blockchain, and Customer Experience Management

Taming the Trends

Your business can flourish in the digital age if it moves swiftly and embraces the changing environment. New fintech trends deepen customer satisfaction and loyalty, drive long-term relationships and increase profitability in a shifting regulatory landscape. But it is necessary not only know them but to be able to design and implement qualitatively. Lucky for you we have all these gathered together! The goals you envision today and your ability to execute that vision effectively — will determine your future competitiveness.

Artificial Intelligence and Robotic Process Automation

Voice Technology in Banking

Automatic Savings and Pay Down Apps

Smart Contracts and Blockchain Technology

Artificial Intelligence and Robotic Process Automation

We have vast experience in AI implementation. While combining Data Mining, Deep Learning, and Machine Learning, we create AI-based trading platform that analyzes the vast amount of financial data available to predict stock behavior, risk, and volatility, and give recommendations on trade and investment strategies. Because of AI’s objectivity which, unlike a human being, is not likely to be biased, it is possible to design top solutions for Credit Decisions, Risk Management, Fraud Prevention, Trading, and many others fintech areas.

Voice Technology in Banking

Currently, only some banks offer voice banking. While there are not many actions that can be performed using such banking. But in the near future, people will be able to voice many other banking tasks, such as money transfer and mortgage processing. The developers of this technology want it to look completely natural. Softarex also moves in that direction.

Automatic Savings and Pay Down Apps

Many apps and banking features are looking to make saving easy and automatic. Our frontrunners here are apps which analyze expenses from credit cards and help users keep these costs under control. It shows a history of client’s expenses and can set limits on the expenditure level. Another type of saving app is “round-up” app which diverts the change from everyday purchases and puts them into a savings account or towards paying down debt. Generally, it rounds up every purchase to the nearest dollar and deposit it or invest it in another designated account. This is an easy and automatic way to save money that is painless for most people.

Smart Contracts and Blockchain Technology

A smart contract is a computer code running on top of a blockchain. It contains a set of rules under which parties of a smart contract agree to interact with each other. The smart contract code facilitates, verifies, and enforces the negotiation or performance of an agreement or transaction.

Blockchain as a Service(BaaS) — is a cloud-based service that allows customers to build their own blockchain powered products and use other blockchain features without the need for setup, manage or execute blockchain-based infrastructure.

Ricardian contacts — are legal contracts that will be cryptographically verified and signed. This is a unique solution: both humans and computers can understand it without the third-party need as it uses human-readable text.

Blockchain interoperability — improves information sharing across diverse networks or blockchain systems. These cross-chain services improve blockchain interoperability and also make them more practical for day-to-day use.

Key Drivers for Modern Fintech

Fintech is emerging as a powerful theme driven by the rapid adoption of cutting edge technologies across the financial services industry, such as digital payments and money transfers, financial software and automation, alternative lending and funding platforms.

32% of traditional financial services organizations will adopt digital or mobile strategies, integrating FinTech from partners by 2020 as far they are not ready to go all in and invest fully in FinTech

60% — grow by 2020 number financial organizations clients which will use mobile applications at least once a month to access financial services

Financial Intelligence Beyond Its Borders

To keep up with the latest trends and even beat them, we’ve developed a сlients-oriented platform for Financial institutions — FINMATEX. It is designed for creating and managing marketplaces with own Financial products. The platform has an AI-based client’s assistance. Financial Organizations can build their own branded marketplaces with products and services or use Finmatex marketplaces. Also, it is possible to create and manage products and services based on the provided Products Templates. First of all, Finmatex designed for Banks (brick & mortar and online), Neobanks, Credit unions, Brokerage companies, Crypto exchange markets and brokers, Forex brokers, Insurance companies, Financial advisors and investment managers. Nevertheless, the system also has features for users’ needs.